Market News

Midday livestock markets

USDA mandatory is reporting some cattle have sold in Kansas at 162.00 live, $5.00 higher than last week on moderate to good demand. Trading is moderate in Central and Eastern Nebraska on good demand. Compared to last week dressed sales are 6.00 to 9.00 higher at mostly 258.00. Trading remains mostly inactive in all other regions with moderate buyer inquiry.

Boxed beef cutout values are up 1.17 at 243.77 on the choice and 1.42 higher for select at 232.68.

There are no recent feeder cattle sales to report due to the holidays with most auctions closed until after the first of the year.

Barrows and gilts in the Iowa/Minnesota direct trade opened 1.56 lower at 73.89 weighted average on a carcass basis, the West was down 1.44 at 73.89 and the East at 73.41 with no price comparison. Missouri direct base carcass meat price is steady at 73.00 with light interest. Illinois direct sows are steady from 37.00 to 50.00.   Most Midwest hog markets on a live basis are closed for the holiday week.

The pork carcass cutout value is up .12 at 87.05 with only ribs and hams higher.

The December 1 hogs and pigs report fully confirmed trade expectations that pork producers have turned serious about herd expansion. Indeed, the report showed that the three main categories, total hogs, breeding herd and market hog inventory were slightly higher than pre-report trade estimates.